RIL to raise US$2.25bn

Indian conglomerate #Reliance Industries Ltd (RIL) is in talks to raise US$2.25 billion from offshore markets to replace existing high-cost borrowings as well as build a war chest for telecom business expansion.

At least 10-12 investment bankers are involved in marketing roadshows in North America, Europe, the Middle East and Asia, reported Economic Times on Jan 23, 2017.

The roadshow is expected to start soon, the newspaper added, citing people with direct knowledge of the plan.

Earlier this month, RIL has said it would raise Rs.30,000 crore through a rights issue of optionally convertible preference shares to invest in #Reliance Jio Infocomm, the telecom unit. It had raised Rs.30,000 crore in January and September last year through a rights issue of optionally convertible preference shares.

Its investment plans include US$4.4 billion for enhancing telecom network capacity to compete with rivals #Bharti Airtel and #Vodafone. fii-news.com